Daily Forecast – Share Market – October 17th, 2022

Nifty may test 17000 | Keep a watch on Geo-political and Market cues

Mars is leading the day, with support of Moon, Rahu, Jupiter, Saturn and Venus. Importantly, next week, we shall be facing solar eclipse (visible in India – around 44% in Delhi area and some areas 41% or so). Impact of this eclipse will be clearly visible in the market in coming period. Lord of Horoscope Venus will be in the shadow of solar eclipse, impact on India will also be possible.

Foreign cues are strongly playing in our market, which may not be supportive. Pressure can be seen in the market. I agree that results from local companies may give some support but cues from foreign market and geo-political situation may not be supportive.

Nifty may try to test again 17000 levels.

Next week, there will be changes in planetary positions. Saturn will start transiting direct, Mercury will be changing its house and sign, along with solar eclipse. Impact will be clearly visible in the market in coming period.

Market may show volatility in the week.

Actions in many segments can be seen like – two wheeler automobile, cement, financial institutions, banks, IT (watchful), communication, space, defence, metals, chemicals, sugar, agro-produces, many more may show reactions in the market.

Next week onwards, market may give direction to the market, or may be after November 9th, so  till then trade with care, casual traders must protect their funds.

Nifty may test 17000. Volatility possible.

Indian Currency

Indian Rupee may trade in between 82.00 to 82.60 per USD.

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** Before investing or trading please check technical aspects also, it’s a reading based on planetary movements.